Insurers Drop 2nd Circ. Appeal Of Milberg Coverage Suit

Law360, New York (April 27, 2011, 7:15 PM EDT) -- Two insurers on Tuesday dropped their Second Circuit appeal of a decision to dismiss their suit against Milberg LLP, which allegedly owed at least $5 million for defense coverage in cases related to a kickback scheme at the firm.

Lloyd's of London underwriters and Zurich Specialties London Ltd. reached a negotiated stipulation with Milberg and individual defendants to withdraw their appeal, according to a mandate issued Tuesday.

Attorneys representing Lloyd's and Milberg declined to comment on the agreement. A spokeswoman for Milberg could not immediately be...
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